China, Japan and South Korea launched FTA negotiations

Trade ministers from China, Japan and South Korea announced Tuesday the launch of the Free Trade Area (FTA) negotiations, a move that will strengthen economic ties of the three major economies, China's Ministry of Commerce (MOFCOM) said Tuesday.

Beijing and Seoul have vowed to improve their handling of fishery disputes and to start formal talks on a free trade agreement (FTA), according to a joint communique released on January 11 after a visit by South Korean President Lee Myung-Bak.

The role of the US in the Diaoyu Islands dispute has been hotly discussed recently. Some observers hold that the dispute is a conspiracy by the US, intended to disturb the economic integration of East Asia and facilitate the development of the TPP.